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The Chicago Fed Midwest Manufacturing Index (CFMMI) reached a record high of 127.6
(1992=100) in January. The index increased 0.6% from December to January, following a strong
revised 1.1% increase in December. By comparison, the Federal Reserve Board’s industrial production
index for manufacturing (IP-MFG) also set a record high of 131.2 in January, representing a
0.3% increase following a 0.4% increase in December. This marked the second consecutive month
that the regional manufacturing index posted stronger month-to-month growth than the national
index. In January, output in the region was 6.6% above a year ago while the nation was up 6.3%.